THELOGICALINDIAN - LTC is declining to beat the acute 100 level
Litecoin / USD Short-term amount analysis
Litecoin has a bearish concise bias, with the LTC / USD brace still trading beneath above abstruse attrition on the four-hour time frame.
The four-hour time anatomy is assuming that a aloof triangle arrangement has formed, which indicates that a able directional blemish in the LTC / USD brace is nearing.
Key abstruse attrition on the four-hour time anatomy is amid at the $100.00 and $107.00 levels.
Technical indicators on the four-hour time anatomy are aloof and are currently declining to accomplish a bright trading signal.
Pattern Watch
Traders should agenda that a bearish blemish from the triangle will acceptable alert a move appear the $60.00 level.
Relative Strength Index
The Relative Strength Index on the four-hour time anatomy is attempting to actual higher, although it charcoal technically bearish.
MACD Indicator
The MACD indicator is aloof on the four-hour time anatomy and is currently declining to affair a bright trading signal.
Litecoin / USD Medium-term amount analysis
Litecoin has a bullish medium-term trading bias, with the cryptocurrency still captivation amount aloft above abstruse abutment on the circadian time frame.
The circadian time anatomy shows that the LTC / USD brace is accumulation beneath the neckline of a bearish arch and amateur arrangement that has yet to ability its abounding downside objective.
Key abstruse abutment for the LTC / USD brace is currently begin at the $66.00 and $60.00 levels.
Technical indicators on the circadian time anatomy are bearish and abide to highlight that the LTC / USD brace charcoal anemic over the medium-term.
Pattern Watch
Traders should agenda that a aloof triangle arrangement has additionally formed on the circadian time frame.
Relative Strength Index
The Relative Strength Index on the circadian time anatomy charcoal bearish and continues to affair a advertise signal.
MACD Indicator
The MACD indicator is bearish on the circadian time frame, although it is still trading in oversold territory.
Conclusion
Litecoin charcoal technically anemic beyond both time frames, with the LTC / USD brace again declining to accretion absorption aloft the cerebral $100.00 level.
The four-hour and circadian time anatomy continues to highlight that a assiduity of the bearish breakdown should see the LTC / USD brace targeting the $60.00 region.
Check out our bread guide for an addition to Litecoin.
We additionally wrote a DARE for the project, allegory the approaching affairs of the Bitcoin competitor.
